An Experiment in Distributive Bargaining
Consider the following sales situation where an agreement has to be reached on the specifications of the product to be bought and the money to be paid. Both the seller and the buyer can make concession.
Only one deal is being negotiated
The bargainers are honorable people
The decisions made are binding
No arbitration or third party is available to assist bargainers
Any party can break off the negotiation and continue as before
The setting and language are not important